Short Interest in Putnam Mun Oppo (NYSE:PMO) Declines By 45.3%

Putnam Mun Oppo (NYSE:PMO) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 28,235 shares, a drop of 45.3% from the July 15th total of 51,578 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 59,641 shares, the days-to-cover ratio is currently 0.5 days.

Putnam Mun Oppo Stock Down 0.4%

Shares of NYSE PMO traded down $0.04 during midday trading on Monday, hitting $10.55. 45,337 shares of the company’s stock were exchanged, compared to its average volume of 65,540. The business’s fifty day moving average price is $10.55 and its two-hundred day moving average price is $10.50. Putnam Mun Oppo has a 12-month low of $9.72 and a 12-month high of $10.87.

Putnam Mun Oppo Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be paid a $0.052 dividend. This represents a c) dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend is Friday, November 20th.

Hedge Funds Weigh In On Putnam Mun Oppo

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its holdings in shares of Putnam Mun Oppo by 16.6% during the 1st quarter. Royal Bank of Canada now owns 22,246 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 3,162 shares during the last quarter. Invesco Ltd. raised its position in Putnam Mun Oppo by 228.4% during the second quarter. Invesco Ltd. now owns 78,733 shares of the financial services provider’s stock valued at $779,000 after purchasing an additional 54,761 shares in the last quarter. Karpus Management Inc. raised its position in Putnam Mun Oppo by 133.0% during the second quarter. Karpus Management Inc. now owns 231,992 shares of the financial services provider’s stock valued at $2,294,000 after purchasing an additional 132,444 shares in the last quarter. Bank of America Corp DE raised its position in Putnam Mun Oppo by 20.6% during the second quarter. Bank of America Corp DE now owns 152,349 shares of the financial services provider’s stock valued at $1,507,000 after purchasing an additional 26,015 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new stake in Putnam Mun Oppo during the second quarter worth about $99,000. Institutional investors own 20.40% of the company’s stock.

About Putnam Mun Oppo

Putnam Municipal Opportunities Trust (NYSE: PMO) is a diversified closed-end management investment company that seeks to provide current income exempt from federal income tax with a secondary objective of capital preservation. Established in 1982 and advised by Putnam Investment Management, the Trust invests primarily in municipal securities issued by U.S. states, municipalities and their instrumentalities. Its strategy combines high-quality bonds with selectively chosen sectors in the municipal market to generate tax-advantaged income for shareholders.

The Trust’s portfolio generally comprises general obligation bonds, revenue bonds and insured municipal securities, as well as unrated issues judged by its adviser to possess equivalent credit quality.